PRADHAN MANTRI MUDRA YOJANA (PMMY), a flagship scheme of Government of India, was launched on 8th April, 2015 by the Hon’ble Prime Minister to “fund the unfunded” by bringing such enterprises to the formal financial system and extending affordable credit to them.
- Any type of Fund Based or Non Fund Based facility.
- No Minimum amount. Maximum Amount - Rs.10.00 lacs.
Categorization of MUDRA Loans
SHISHU : Loans sanctioned under the scheme up to Rs.50000
KISHORE : Loans sanctioned under the scheme from Rs.50001 to Rs.5.00 lacs
TARUN : Loans sanctioned under the scheme from Rs.5,00,001 to Rs.10.00 lacs
- Assets created out of the Bank’s finance.
- No collateral security.
- All “Non farm enterprises”
- under “Micro Enterprises” and “Small Enterprises” segment
- engaged in “income generating activities”
- engaged in “manufacturing, trading and services“ and
- whose “credit needs are up to Rs.10.00 lacs”
- Now allied agriculture activities have also been included under PMMY scheme w.e.f. 01.04.2016.
|Up to Rs.50000/-
|Above Rs.50000/- to Rs.2.00 lacs
|Above Rs.2.00 lacs to Rs.10.00 lacs
Processing Charges : Nil